So, for the avoidance of any doubt, is Peter Willett acting for the Al Thani family in relation to the Offer, albeit via the Swiss based Investment Trust?

Glenn, is there any chance of the update to the questions which have been raised since the Board's last response, as I believe it would be helpful to have before Wednesday's meeting?

quote:

Originally posted by alan archer:
So, for the avoidance of any doubt, is Peter Willett acting for the Al Thani family in relation to the Offer, albeit via the Swiss based Investment Trust?

Hi Alan,

There is no suggestion anywhere that Willett is acting on behalf of the Al Thani family in relation to this deal. JAH has said that it would be inappropriate to disclose the names of the backers so it would seem strange if the Al Thanis were involved. I can find no suggestion that any Arab backers are involved only references to a "Middle Eastern consortium". This point could easily be cleared up one way or the other without breaking any confidentialities if there was a will to do so.

Hi Glenn - we were promised an update to the further questions raised. Is there any reason for the delay in the response? It would also be of relevance to know if the new Board appointees or potential beneficial owners be available at the meeting tonight to answer questions?

" am very concerned that the offer to exchange appears to be NOT conditional - Being devils advocate, the new owners might only invest 1p once the Trust have signed everything over?

Answer: This is not the case. Whilst it is not prudent to publish an amount, it is substantial and The Club/Blenheim 1862 Limited have an irrevocable bank guarantee that Munto will invest at least this amount in the Club over the next 5 years. If Munto fail to invest the said total amount within the 5 year time frame, then the bank has to pay the Club/Blenheim 1862 Limited any difference."

Glenn,
Given the news overnight, how certain can we be that funding of the club can continue, given several players presumably are on reasonably expensive contracts - did the Trust have seperate legal advice as regards the enforceability of the bank guarantee? We want to be in a position that cash is guaranteed to fund the club, in order to avoid a Luton situation like a possible 30 point deduction

I have to say how very impressed I am with the Trust's Rapid Response Line to answer members questions. I would have thought that with all the breaking news regarding Munto putting the Club up for sale to day this Board would have been man'd to answer questions as a matter of courtesy to its membership, especially as we were advised that this takeover was "The Real Deal".

Every Thing Forward & Trust In The Lord.

The questions about the due diligence and the effectiveness of the guarantee are now paramount as the very existence of trhe Club is at stake. Answer them!

It is interesting to note that throughout the process of the takeover, the trust Board have been very selective in their responses to questions:
question posted 10 June 09 on this thread:
"In terms of the questions being answered, please advise who is acting as legal representatives of the Trust (law firm) to ensure everything is in order - especially that there is no comeback on the Trust at a later date - again playing devils advocate

As Stuart says, the immediate future of the club is at stake. If the cash were to run out, there is a chance we would be heading for administration again.

I am sorry to see that the complete lack of a response to such serious matters, not even an acknowledgment. The latest article in The Guardian mentioned JAH's own due diligence but did not expand to say whether independent professional advice was ever sought.

Glenn hasn't even logged in since last Thursday.